Australia: New TP Rules Introduced into Parliament

A Bill containing the proposed new Australian transfer pricing laws was introduced to Parliament on 13 February 2012. The transfer pricing provisions proposed in the Bill are largely consistent with the Exposure Draft (ED) that was released in November 2012 (see our previous PKN Alert for details), although there have been some notable changes. The Bill also incorporates proposed changes to the general anti-avoidance rules (Part IVA). This article focuses on the proposed transfer pricing rule changes.